Venezuela's President Hugo Chavez died late yesterday evening after being in a critical condition.

His deputy Nicolas Maduro annunced the news to a deeply divided nation which is mourning its late President.

In a speech, Nicolas Maduro tried to reassure the nation. The funeral will be held on Friday as the country will be in mourning for seven days. The remains of Chavez will lie in state for three days until the funeral. 

Venezuela will prepare for elections to elect a new president in 30 days as the military has been deployed to ensure that any unrest will be controlled. 

Officials said that Chavez, 58 had a new severe respiratory infection on Monday.

He had not been seen in public since he went back to Venezuela last month, after being treated for cancer in Cuba.